Welcome to the New Ligand

Ligand Is Discovery

Ligand is a biotech company focused on the discovery and development of new medical treatments. Through our efforts, we aim to solve unmet medical needs in a number of therapeutic areas, including:

• TPO Mimetics: PROMACTA^TM (eltrombopag) is a small-molecule TPO mimetic that is being developed by GlaxoSmithKline for thrombocytopenia. GlaxoSmithKline submitted an NDA for PROMACTA^TM in 4Q07 and in March 2008, received FDA review acceptance and was granted priority review for use in treatment in short-term Idiopathic Thrombocytopenic Purpura (ITP). In addition, GlaxoSmithKline initiated two Phase III trials in 4Q07 for hepatitis C and is currently studying the drug in chemotherapy-induced thrombocytopenia (CIT).



• VIVIANT^TM (bazedoxifene) is being developed by Wyeth as a monotherapy for osteoporosis. Wyeth is also developing APRELA^TM, which is bazedoxifene in combination with PREMARIN^®, for osteoporosis prevention and vasomotor symptoms of menopause. Wyeth received an approvable letter for its NDA for VIVIANT^TM in June 2007 and it projects FDA action by the end of 2Q08.

Fulfilling unmet medical needs is just the beginning. Within that framework of discovery, our objective is to ensure that the drugs we develop are also more effective, safer, more convenient to administer, and/or more cost effective than existing therapies.

Ligand Is Collaboration

At Ligand, we believe collaboration is an important part of successful drug discovery and development. We have forged numerous valuable research and development alliances with global pharmaceutical companies that have ongoing clinical programs.

Pharmaceutical partnerships include the following companies and span programs in large market indications, such as thrombocytopenia, osteoporosis, menopausal symptoms and frailty:

• King Pharmaceuticals
• GlaxoSmithKline
• Wyeth
• Pfizer Inc.
• TAP Pharmaceutical Products, Inc. (“TAP”)

Ligand Is Development

We are excited about the potentially promising development products that collaborations with pharmaceutical partners are already yielding. These include:

• TPO Mimetics: PROMACTA^TM (eltrombopag) is a small-molecule TPO mimetic that is being developed by GlaxoSmithKline for thrombocytopenia. GlaxoSmithKline submitted an NDA for PROMACTA^TM in 4Q07 and in March 2008, received FDA review acceptance and was granted priority review for use in treatment in short-term Idiopathic Thrombocytopenic Purpura (ITP). In addition, GlaxoSmithKline initiated two Phase III trials in 4Q07 for hepatitis C and is currently studying the drug in chemotherapy-induced thrombocytopenia (CIT).

• VIVIANT^TM (bazedoxifene) is being developed by Wyeth as a monotherapy for osteoporosis. Wyeth is also developing APRELA^TM, which is bazedoxifene in combination with PREMARIN^®, for osteoporosis prevention and vasomotor symptoms of menopause. Wyeth received an approvable letter for its NDA for VIVIANT^TM in June 2007 and it projects FDA action by the end of 2Q08.



• For a complete overview of Ligand's product development efforts please click here.

Ligand Is Science

Our research and development programs—both within Ligand and with external partners—are built around our proprietary intracellular (IR) technology. Intracellar technology is the result of our ground-breaking work in the field of gene transcription. It is a powerful technology that has already generated compounds, such as LGD-4665 and partnered products now in human development, that modulate gene transcription by affecting key cellular or intracellular receptor targets discovered using IR technology.

Ligand Is Success

We believe in our internal development programs and are committed to realizing the outstanding potential of LGD-4665. In addition, Ligand had the potential to realize profit streams from milestone and royalty revenues resulting from collaborations with pharmaceutical partners. Recently, we divested commercial assets, allowing us to focus on a business strategy that targets internal research and development.

Ligand Management